Parsons Co. (NYSE:PSN) Shares Acquired by abrdn plc

abrdn plc increased its position in shares of Parsons Co. (NYSE:PSN) by 5.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 464,462 shares of the company’s stock after acquiring an additional 25,642 shares during the quarter. abrdn plc owned approximately 0.44% of Parsons worth $29,126,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of PSN. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Parsons in the third quarter worth $27,952,000. Eagle Asset Management Inc. purchased a new stake in shares of Parsons in the 3rd quarter valued at about $9,943,000. Redwood Investments LLC purchased a new position in shares of Parsons during the third quarter worth approximately $9,937,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Parsons by 40.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 559,252 shares of the company’s stock valued at $30,395,000 after buying an additional 161,592 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Parsons by 3.3% in the third quarter. Vanguard Group Inc. now owns 4,119,811 shares of the company’s stock valued at $223,912,000 after purchasing an additional 131,617 shares during the period. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Parsons Trading Up 0.5 %

Parsons stock opened at $77.87 on Tuesday. The firm has a market capitalization of $8.24 billion, a price-to-earnings ratio of 54.84, a P/E/G ratio of 3.47 and a beta of 0.85. Parsons Co. has a 52 week low of $42.22 and a 52 week high of $85.44. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.52 and a current ratio of 1.51. The company has a 50 day moving average price of $80.20 and a 200 day moving average price of $68.60.

Parsons (NYSE:PSN) last announced its earnings results on Wednesday, February 14th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.56 by $0.13. Parsons had a net margin of 2.96% and a return on equity of 10.32%. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the firm posted $0.45 EPS. The business’s quarterly revenue was up 36.4% on a year-over-year basis. Research analysts forecast that Parsons Co. will post 2.55 EPS for the current year.

Analyst Upgrades and Downgrades

PSN has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their price target on Parsons from $73.00 to $81.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Robert W. Baird boosted their price objective on shares of Parsons from $75.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Benchmark reissued a “buy” rating and issued a $68.00 price target on shares of Parsons in a research note on Thursday, April 4th. Truist Financial upped their price objective on Parsons from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Finally, KeyCorp raised their price target on shares of Parsons from $89.00 to $90.00 and gave the company an “overweight” rating in a report on Friday. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Parsons presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.00.

About Parsons

Parsons Corporation provides integrated solutions and services in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. The company operates through Federal Solutions and Critical Infrastructure segments. The Federal Solutions segment provides critical technologies, such as cybersecurity; missile defense; intelligence; space launch and ground systems; space and weapon system resiliency; geospatial intelligence; signals intelligence; environmental remediation; border security, critical infrastructure protection; counter unmanned air systems; biometrics and bio surveillance solutions to U.S.